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A
s one of the world’s largest economic sectors, Travel & Tourism
creates jobs, drives exports, and generates prosperity across the
world. In our annual analysis of the global economic impact of
Travel & Tourism, the sector is shown to account for 10.4% of
global GDP and 313 million jobs, or 9.9% of total employment, in 2017.
The right policy and investment decisions are only made with empirical
evidence. For over 25 years, the World Travel & Tourism Council (WTTC) has
been providing this evidence, quantifying the economic and employment
impact of Travel & Tourism. Our 2018 Annual Economic Reports cover 185
countries and 25 regions of the world, providing the necessary data on 2017
performance as well as unique 10-year forecasts on the sector’s potential.
2017 was one of the strongest years of GDP growth in a decade with
robust consumer spending worldwide. This global growth transferred again
into Travel & Tourism with the sector’s direct growth of 4.6% outpacing
THE ECONOMIC IMPACT the global economy for the seventh successive year. As in recent years,
OF GLOBAL TRAVEL & performance was particularly strong across Asia, but proving the sector’s
TOURISM resilience, 2017 also saw countries such as Tunisia, Turkey and Egypt that
had previously been devastated by the impacts of terrorist activity,
recover strongly.
10.4%
Travel & Tourism GDP as a
This power of resilience in Travel & Tourism will be much needed for
the many established Travel & Tourism destinations that were severely
impacted by natural disasters in 2017. While our data shows the extent
of these impacts and rates of recovery over the decade ahead, beyond
percentage of global GDP. just numbers, WTTC and its Members are working hard to support local
communities as they rebuild and recover.
Inclusive growth and ensuring a future with quality jobs are the concerns
of governments everywhere. Travel & Tourism, which already supports
4.6%
Direct Travel & Tourism GDP
one in every ten jobs on the planet, is a dynamic engine of employment
opportunity. Over the past ten years, one in five of all jobs created across
the world has been in the sector and, with the right regulatory conditions
and government support, nearly 100 million new jobs could be created over
growth in 2017. the decade ahead.
Over the longer term, forecast growth of the Travel & Tourism sector will
continue to be robust as millions more people are moved to travel to see
1 /10
the wonders of the world. Strong growth also requires strong management,
and WTTC will also continue to take a leadership role with destinations
to ensure that they are planning effectively and strategically for growth,
accounting for the needs of all stakeholders and using the most advanced
jobs are supported by Travel & technologies in the process.
Tourism. This is 9.9% of global
employment. WTTC is proud to continue to provide the evidence base required in order
to help both public and private bodies make the right decisions for the
future growth of a sustainable Travel & Tourism sector, and for the millions
of people who depend on it.
1 /5
of all global net jobs created in
last decade have been within the
Travel & Tourism sector.
Gloria Guevara Manzo
President & CEO
FOREWORD
GLOSSARY 15
METHODOLOGICAL NOTE 16
VISITOR EXPORTS
Visitor exports generated BRL19.2bn (USD6.0bn), 2.3% of total exports in 2017. This is
forecast to grow by 10.6% in 2018, and grow by 6.4% pa, from 2018-2028, to BRL39.6bn (USD12.4bn) in 2028,
3.3% of total.
INVESTMENT
Travel & Tourism investment in 2017 was BRL62.8bn, 6.1% of total investment (USD19.7bn). It should rise by
2.6% in 2018, and rise by 5.3% pa over the next ten years to BRL107.4bn (USD33.6bn) in 2028, 6.9% of total.
1
All values are in constant 2017 prices & exchange rates
600 211
500
400 190
300 EMPLOYMENT
2,337 ('000)
200
2,622
100 DIRECT
1,632
0 + INDIRECT
2011
2016
2017
2018
2028
2010
2014
2015
2012
2013
2008
2009
2028
+ INDUCED
DIRECT INDIRECT INDUCED
= TOTAL CONTRIBUTION OF TRAVEL & TOURISM
DIRECT
Travel & Tourism contribution
COMMODITIES
● Accommodation
● Transportation
● Entertainment
● Attractions
INDIRECT INDUCED TOTAL
INDUSTRIES Travel & Tourism contribution Travel & Tourism
● Accommodation services contribution (spending of direct and contribution
● Food & beverage services indirect employees)
● Retail Trade ● T&T investment spending
● Transportation services
● Cultural, sports & recreational ● Government collective T&T ● Food and beverages ● To GDP
services spending ● Recreation
● Clothing ● To employment
SOURCES OF SPENDING ● Impact of purchases from ● Housing
● Residents' domestic T&T suppliers ● Household goods
spending
● Businesses' domestic travel
spending
● Visitor exports
● Individual government T&T
spending
DIRECT CONTRIBUTION
The direct contribution of Travel & Tourism to GDP reflects the ‘internal’ spending on Travel & Tourism (total spending within a particular
country on Travel & Tourism by residents and non-residents for business and leisure purposes) as well as government 'individual' spending -
spending by government on Travel & Tourism services directly linked to visitors, such as cultural (eg museums) or recreational (eg national parks).
The direct contribution of Travel & Tourism to GDP is calculated to be consistent with the output, as expressed in National Accounting,
of tourism-characteristic sectors such as hotels, airlines, airports, travel agents and leisure and recreation services that deal directly with
tourists. The direct contribution of Travel & Tourism to GDP is calculated from total internal spending by ‘netting out’ the purchases made
by the different tourism sectors. This measure is consistent with the definition of Tourism GDP, specified in the 2008 Tourism Satellite
Account: Recommended Methodological Framework (TSA: RMF 2008).
The total contribution of Travel & Tourism includes its ‘wider impacts’ (ie the indirect and induced impacts) on the economy. The ‘indirect’
contribution includes the GDP and jobs supported by:
● Travel & Tourism investment spending – an important aspect of both current and future activity that includes investment activity
such as the purchase of new aircraft and construction of new hotels;
● Government 'collective' spending, which helps Travel & Tourism activity in many different ways as it is made on behalf of the
‘community at large’ – eg tourism marketing and promotion, aviation, administration, security services, resort area security services, resort
area sanitation services, etc;
● Domestic purchases of goods and services by the sectors dealing directly with tourists – including, for example, purchases of food and
cleaning services by hotels, of fuel and catering services by airlines, and IT services by travel agents.
The ‘induced’ contribution measures the GDP and jobs supported by the spending of those who are directly or indirectly employed by the
Travel & Tourism industry.
PLEASE NOTE THAT DUE TO CHANGES IN METHODOLOGY BETWEEN 2010 AND 2011, IT IS NOT POSSIBLE TO COMPARE FIGURES PUBLISHED BY WTTC FROM 2011 ONWARDS
WITH THE SERIES PUBLISHED IN PREVIOUS YEARS.
The direct contribution of Travel & Tourism to GDP is expected to grow by 2.6% pa to BRL253.1bn (3.0% of GDP) by 2028.
3.3
250
3.2
200
3.1
150 3.0
2.9
100
2.8
50
2.7
0 2.6
2028
2009
2009
2008
2008
2028
2012
2013
2014
2016
2012
2014
2016
2010
2011
2015
2017
2018
2010
2011
2015
2017
2018
2013
2028
The total contribution of Travel & Tourism to GDP (including wider effects from investment, the supply chain and induced income impacts, see
page 2) was BRL520.5bn in 2017 (7.9% of GDP) and is expected to grow by 2.5% to BRL533.6bn (7.9% of GDP) in 2018.
800 9.0
700 8.0
7.0
600
6.0
500
5.0
400
4.0
300
3.0
200 2.0
100 1.0
0 0.0
2017 2018 2028
2028
2028 2017 2018 2028
1
All values are in constant 2017 prices & exchange rates
Travel & Tourism generated 2,337,000 jobs directly in 2017 (2.6% of total employment) and this is forecast to grow by 2.4% in 2018 to 2,393,000
(2.6% of total employment). This includes employment by hotels, travel agents, airlines and other passenger transportation services
(excluding commuter services). It also includes, for example, the activities of the restaurant and leisure industries directly supported by tourists.
By 2028, Travel & Tourism will account for 2,887,000 jobs directly, an increase of 1.9% pa over the next ten years.
3,000.0 2.8
2.7
2,500.0
2.7
2,000.0
2.6
1,500.0
2.6
1,000.0
2.5
500.0 2.5
0.0 2.4
2009
2008
2028
2012
2014
2016
2010
2011
2015
2017
2018
2013
2008
2009
2010
2011
2015
2017
2018
2028
2012
2013
2014
2016
2028
2028
The total contribution of Travel & Tourism to employment (including wider effects from investment, the supply chain and induced
income impacts, see page 2) was 6,591,500 jobs in 2017 (7.3% of total employment). This is forecast to rise by 1.9% in 2018 to 6,717,000 jobs
(7.3% of total employment).
By 2028, Travel & Tourism is forecast to support 8,040,000 jobs (7.7% of total employment), an increase of 1.8% pa over the period.
VISITOR EXPORTS
Visitor exports are a key component of the direct contribution of Travel & Tourism. In 2017, Brazil generated
BRL19.2bn in visitor exports. In 2018, this is expected to grow by 10.6%, and the country is expected to attract 5,992,000 international tourist
arrivals.
By 2028, international tourist arrivals are forecast to total 10,059,000, generating expenditure of BRL39.6bn, an increase of 6.4% pa.
40 3.5
10
35
3.0
30 8
25 2.5
6
20 2.0
15 4
1.5
10
2 1.0
5
0 0 0.5
2008
2009
2011
2015
2017
2018
2028
2012
2013
2014
2016
2010
2028
0.0
2009
2008
2028
2012
2014
2016
2010
2011
2015
2017
2018
2013
2028
FOREIGN VISITOR EXPORTS (LHS)
FOREIGN TOURIST ARRIVALS (RHS)
INVESTMENT
Travel & Tourism is expected to have attracted capital investment of BRL62.8bn in 2017. This is expected to rise by 2.6% in 2018, and rise by
5.3% pa over the next ten years to BRL107.4bn in 2028.
Travel & Tourism’s share of total national investment will rise from 6.1% in 2018 to 6.9% in 2028.
7.0
100
6.0
80
5.0
60 4.0
3.0
40
2.0
20
1.0
0 0.0
2009
2008
2028
2012
2014
2016
2010
2011
2015
2017
2018
2013
2008
2009
2016
2010
2011
2015
2017
2018
2028
2012
2013
2014
2028
2028
1
All values are in constant 2017 prices & exchange rates
BRAZIL
TRAVEL & TOURISM'S CONTRIBUTION TO GDP:
DOMESTIC VS FOREIGN, 2017 Domestic travel spending generated 94.3% of direct
Travel & Tourism GDP in 2017 compared with 5.7% for
Foreign visitor
visitor exports (ie foreign visitor spending or
spending
international tourism receipts).
5.7%
Domestic
Domestic travel spending is expected to grow by
spending
2.3% in 2018 to BRL326.1bn, and rise by 2.4% pa to
94.3% BRL413.1bn in 2028.
BRAZIL
BREAKDOWN OF TRAVEL & TOURISM'S
TOTAL CONTRIBUTION TO GDP, 2017 The Travel & Tourism industry contributes to GDP
Direct and employment in many ways as detailed on page 2.
36.5%
Induced
TRAVEL & TOURISM'S DIRECT 2017 TRAVEL & TOURISM'S TOTAL 2017
CONTRIBUTION TO GDP (US$bn) CONTRIBUTION TO GDP (US$bn)
9 Mexico 82.2 10 Mexico 185.4
11 Brazil 59.6 11 Brazil 163.0
20 Argentina 23.0 20 Argentina 63.6
World Average 21.5 World Average 62.9
42 Chile 9.2 37 Chile 28.4
45 Peru 8.1 46 Peru 20.8
Latin America Average 6.7 Latin America Average 18.4
67 Costa Rica 2.9 63 Cuba 9.7
71 Venezuela 2.7 68 Venezuela 7.8
75 Cuba 2.3 70 Costa Rica 7.5
76 Ecuador 2.2 78 Guatemala 6.1
79 Guatemala 2.2 84 Ecuador 5.4
TRAVEL & TOURISM'S DIRECT 2017 TRAVEL & TOURISM'S TOTAL 2017
CONTRIBUTION TO EMPLOYMENT '000 jobs CONTRIBUTION TO EMPLOYMENT '000 jobs
5 Mexico 3913.4 5 Mexico 8569.4
9 Brazil 2337.0 7 Brazil 6591.3
World Average 937.5 World Average 2341.0
26 Argentina 644.0 24 Argentina 1808.8
42 Peru 400.2 33 Peru 1294.2
46 Venezuela 303.7 43 Venezuela 841.0
Latin America Average 300.6 44 Chile 835.5
50 Chile 283.5 Latin America Average 830.4
73 Guatemala 165.8 66 Cuba 513.1
75 Ecuador 156.2 70 Guatemala 464.1
82 Cuba 123.6 79 Ecuador 363.1
93 Costa Rica 104.3 96 Costa Rica 254.3
2017 2017
TRAVEL & TOURISM INVESTMENT (US$bn) VISITOR EXPORTS (US$bn)
11 Brazil 19.7 16 Mexico 22.4
15 Mexico 12.2 World Average 8.1
21 Argentina 7.2 52 Brazil 6.0
27 Chile 6.2 53 Argentina 5.4
World Average 4.8 55 Chile 4.8
Latin America Average 2.4 59 Peru 4.5
50 Peru 2.2 63 Costa Rica 3.9
55 Cuba 1.8 66 Cuba 3.2
65 Ecuador 1.2 Latin America Average 2.6
70 Venezuela 0.9 80 Ecuador 2.1
72 Guatemala 0.8 93 Guatemala 1.6
92 Costa Rica 0.4 131 Venezuela 0.5
The tables on pages 7-10 provide provide brief extracts from the full WTTC Country League Table Rankings, highlighting comparisons with
competing destinations as well as with the world and regional average. Averages in above tables are simple cross-country averages.
The competing destinations selected are those that offer a similar tourism product and compete for tourists from the same set of origin markets.
These tend to be, but are not exclusively, geographical neighbours.
TRAVEL & TOURISM'S DIRECT 2017 TRAVEL & TOURISM'S TOTAL 2017
CONTRIBUTION TO GDP % share CONTRIBUTION TO GDP % share
37 Mexico 7.1 49 Mexico 16.0
62 Costa Rica 5.0 65 Costa Rica 12.9
83 Peru 3.8 80 Cuba 10.7
88 Argentina 3.7 84 Chile 10.4
97 Chile 3.4 World 10.4
World 3.2 87 Argentina 10.3
Latin America 3.1 91 Peru 9.8
115 Guatemala 2.9 Latin America 8.6
118 Brazil 2.9 115 Guatemala 8.0
131 Venezuela 2.6 117 Brazil 7.9
134 Cuba 2.5 124 Venezuela 7.4
148 Ecuador 2.2 156 Ecuador 5.4
TRAVEL & TOURISM'S DIRECT 2017 TRAVEL & TOURISM'S TOTAL 2017
CONTRIBUTION TO EMPLOYMENT % share CONTRIBUTION TO EMPLOYMENT % share
32 Mexico 7.5 45 Mexico 16.4
56 Costa Rica 5.1 64 Costa Rica 12.5
World 3.8 82 Chile 10.2
98 Argentina 3.5 World 9.9
99 Chile 3.4 86 Cuba 9.9
Latin America 2.8 87 Argentina 9.8
123 Brazil 2.6 111 Peru 8.0
126 Guatemala 2.6 Latin America 7.6
130 Peru 2.5 122 Brazil 7.3
134 Cuba 2.4 123 Guatemala 7.2
139 Venezuela 2.3 131 Venezuela 6.4
142 Ecuador 2.2 157 Ecuador 5.1
TRAVEL & TOURISM'S DIRECT 2018 TRAVEL & TOURISM'S TOTAL 2018
CONTRIBUTION TO GDP % growth CONTRIBUTION TO GDP % growth
31 Costa Rica 6.3 35 Costa Rica 6.0
65 Cuba 4.9 66 Peru 4.7
66 Guatemala 4.8 75 Guatemala 4.5
71 Peru 4.5 80 Argentina 4.3
81 Chile 4.2 82 Chile 4.2
World 4.0 World 4.0
103 Argentina 3.5 97 Cuba 3.8
Latin America 3.4 Latin America 3.4
120 Mexico 3.1 124 Mexico 3.0
133 Brazil 2.7 137 Ecuador 2.7
143 Ecuador 2.4 144 Brazil 2.5
174 Venezuela 1.2 178 Venezuela 0.5
TRAVEL & TOURISM'S DIRECT 2018 TRAVEL & TOURISM'S TOTAL 2018
CONTRIBUTION TO EMPLOYMENT % growth CONTRIBUTION TO EMPLOYMENT % growth
30 Costa Rica 4.6 32 Guatemala 4.2
31 Guatemala 4.5 33 Costa Rica 4.1
52 Peru 3.5 49 Argentina 3.7
60 Mexico 3.2 51 Peru 3.6
62 Argentina 3.2 72 Ecuador 3.1
71 Ecuador 2.9 World 3.0
72 Cuba 2.9 86 Mexico 2.6
Latin America 2.5 Latin America 2.4
World 2.4 93 Cuba 2.4
90 Brazil 2.4 103 Brazil 1.9
131 Chile 1.2 119 Venezuela 1.4
152 Venezuela 0 135 Chile 1
2018 2018
TRAVEL & TOURISM INVESTMENT % growth VISITOR EXPORTS % growth
2 Argentina 10.2 4 Brazil 10.6
50 Peru 6.3 13 Venezuela 8.8
52 Costa Rica 6.2 16 Guatemala 8.5
World 4.8 19 Cuba 8.0
89 Chile 4.5 33 Costa Rica 6.9
Latin America 4.5 35 Argentina 6.8
123 Ecuador 3.6 Latin America 6.1
136 Mexico 3.3 70 Mexico 5.1
147 Cuba 2.9 78 Peru 4.7
152 Brazil 2.6 79 Chile 4.7
158 Guatemala 1.9 World 3.9
184 Venezuela -6.37 123 Ecuador 3.1
TRAVEL & TOURISM'S DIRECT 2018 - 2028 TRAVEL & TOURISM'S TOTAL 2018 - 2028
CONTRIBUTION TO GDP % growth pa CONTRIBUTION TO GDP % growth pa
TRAVEL & TOURISM'S DIRECT 2018 - 2028 TRAVEL & TOURISM'S TOTAL 2018 - 2028
CONTRIBUTION TO EMPLOYMENT % growth pa CONTRIBUTION TO EMPLOYMENT % growth pa
TRAVEL & TOURISM CONTRIBUTION 2018 - 2028 VISITOR EXPORTS 2018 - 2028
TO TOTAL CAPITAL INVESTMENT % growth pa CONTRIBUTION TO TOTAL EXPORTS % growth pa
% of total refers to each indicator's share of the relevant whole economy indicator such as GDP and employment. Visitor exports is shown relative to total exports of goods and services.
Domestic spending is expressed relative to whole economy GDP. For leisure and business spending, their direct contribution to Travel & Tourism GDP is calculated as a share of
whole economy GDP (the sum of these shares equals the direct contribution). Investment is relative to whole economy investment.
(BRLbn, real 2017 prices) 2012 2013 2014 2015 2016 2017 2018E 2028F
1. Visitor exports 17.8 18.7 20.8 22.9 23.5 19.2 21.3 39.6
Domestic expenditure
2. 343.0 345.4 358.2 352.5 336.2 318.8 326.1 413.1
(includes government individual spending)
7. Capital investment 64.1 69.8 73.7 70.6 63.7 62.8 64.4 107.4
8. Government collective spending 31.3 32.9 33.7 33.6 33.4 33.1 33.6 35.5
10. Induced 123.2 125.3 130.9 128.4 124.6 118.8 121.6 157.2
12. Direct contribution of Travel & 2,308.2 2,317.5 2,450.8 2,517.3 2,473.9 2,337.0 2,393.2 2,886.8
Tourism to employment
Other indicators
68.4 79.4 81.9 72.7 58.7 70.1 75.3 96.9
14. Expenditure on outbound travel
(BRLbn, nominal prices) 2012 2013 2014 2015 2016 2017 2018E 2028F
1. Visitor exports 12.6 14.2 17.1 20.3 22.5 19.2 22.2 61.1
Domestic expenditure
2. 242.5 262.6 293.7 312.2 322.4 318.8 339.6 637.3
(includes government individual spending)
5. Direct contribution of
Travel & Tourism to GDP 143.6 156.0 175.2 187.4 194.1 190.2 203.5 390.5
(= 3 + 4)
7. Capital investment 45.3 53.1 60.5 62.5 61.1 62.8 67.0 165.7
8. Government collective spending 22.1 25.0 27.6 29.7 32.0 33.1 35.0 54.8
10. Induced 87.1 95.2 107.3 113.7 119.5 118.8 126.6 242.5
12. Direct contribution of Travel & 2,308.2 2,317.5 2,450.8 2,517.3 2,473.9 2,337.0 2,393.2 2,886.8
Tourism to employment
Other indicators
48.4 60.3 67.1 64.4 56.3 70.1 78.5 149.6
14. Expenditure on outbound travel
*Concepts shown in this table align with the standard table totals as described in the 2008 Tourism Satellite Account: Recommended Methodological
Framework (TSA: RMF 2008) developed by the United Nations Statistical Division (UNSD), the Statistical Office of the European Communities (EUROSTAT),
the Organisation for Economic Co-operation and Development (OECD) and the World Tourism Organization (UNWTO).
Historical data for concepts has been benchmarked to match reported TSA data where available.
1. Visitor exports 12.9 4.9 11.5 10.2 2.5 -18.1 10.6 6.4
Domestic expenditure
2. -0.7 0.7 3.7 -1.6 -4.6 -5.2 2.3 2.4
(includes government individual spending)
5. Direct contribution of
Travel & Tourism to GDP 0.4 1.1 4.1 -1.0 -4.3 -6.0 2.7 2.6
(= 3 + 4)
7. Capital investment 0.5 8.9 5.6 -4.2 -9.8 -1.5 2.6 5.3
8. Government collective spending 1.4 5.3 2.2 -0.2 -0.6 -0.7 1.3 0.6
10. Induced -0.8 1.7 4.4 -1.9 -3.0 -4.6 2.3 2.6
12. Direct contribution of Travel & 1.1 0.4 5.8 2.7 -1.7 -5.5 2.4 1.9
Tourism to employment
Other indicators
15.2 16.1 3.2 -11.2 -19.3 19.4 7.5 2.6
14. Expenditure on outbound travel
1 2
2012-2017 real annual growth adjusted for inflation (%); 2018-2028 annualised real growth adjusted for inflation (%)
WTTC coverage includes data on 185 countries and reports on 25 other regions, sub-regions and economic and geographic groups. This
year, there are 10 reports for special economic and geographic groups.
SUB-REGION
SUB REGION
SUB REGION
SUB REGION
REGION
REGION
REGION
REGION
COUNTRY COUNTRY COUNTRY COUNTRY
NORTHEAST ASIA
Libya Aruba Japan Italy
Morocco Bahamas South Korea
Latvia
Tunisia Macau
Barbados Lithuania
Angola Mongolia
Bermuda Luxembourg
Taiwan
EUROPEAN UNION
Benin
British Virgin Islands Malta
Kazakhstan
CENTRAL ASIA
Botswana
Cayman Islands Netherlands
Burkina Faso Kyrgyzstan
Cuba Poland
Burundi Tajikistan
Dominica Portugal
Cameroon Uzbekistan
CARIBBEAN
Comoros
Haiti Papua New Guinea Sweden
Congo
EUROPE
ASIA-PACIFIC
Nepal
Kenya US Virgin Islands Iceland
OTHER EUROPE
Pakistan
Lesotho
SUB-SAHARAN
Argentina Macedonia
Sri Lanka
Madagascar Belize Moldova
Brunei Darussalam
Malawi Bolivia Montenegro
Cambodia
Mali
SOUTHEAST ASIA (ASEAN)
Nigeria
El Salvador Singapore Ukraine
Reunion
Guatemala Thailand Bahrain
Rwanda
Vietnam
Guyana Iran
Sao Tome and Principe Austria
Honduras Iraq
Senegal Belgium
Nicaragua Israel
Seychelles Bulgaria
Panama Jordan
Sierra Leone
MIDDLE EAST
Croatia
Paraguay
EUROPEAN UNION
Kuwait
South Africa Cyprus
EUROPE
Peru Lebanon
Sudan and South Sudan Czech Republic
Swaziland Suriname Oman
Denmark
Tanzania Uruguay Qatar
Estonia
Togo Venezuela Finland Saudi Arabia
WTTC promotes sustainable growth for the Travel & Tourism sector, working with governments and international institutions to create jobs, to
drive exports and to generate prosperity. Council Members are the Chairs, Presidents and Chief Executives of the world’s leading private sector
Travel & Tourism businesses.
Together with Oxford Economics, WTTC produces annual research that shows Travel & Tourism to be one of the world’s largest sectors,
supporting over 307 million jobs and generating 10.4% of global GDP in 2017. Comprehensive reports quantify, compare and forecast the
economic impact of Travel & Tourism on 185 economies around the world. In addition to the individual country reports, WTTC produces a
world report highlighting global trends and 24 further reports that focus on regions, sub-regions and economic and geographic groups.
Assisting WTTC to Provide Tools for Analysis, Benchmarking, Forecasting and Planning.
Oxford Economics is a leader in global forecasting and quantitative analysis. Our worldwide client base comprises more than 1,500 international
corporations, financial institutions, government organisations, and universities. Headquartered in Oxford, with offices around the world, we
employ 300 people, including 200 economists and analysts. Our best-of-class global economic and industry models and analytical tools give us
an unmatched ability to forecast external market trends and assess their economic, social and business impact.
STR is the source for premium hotel data benchmarking, analytics and marketplace insights. STR provides data that is reliable, confidential,
accurate and actionable, and their comprehensive solutions empower clients to strategize and compete within their markets. The company’s
range of products includes data-driven solutions, thorough analytics and unrivalled marketplace insights, all built to fuel business growth and
help clients make better operational and financial decisions. STR maintains a presence in 15 countries and collects data for over 59,000 hotels
across 180 countries.
ForwardKeys analyses more than 17m flight booking transactions a day, drawing data from all the major global air reservation systems and
selected airlines and tour operators. This information is enhanced with further independent data sets, including flight search and official
government statistics, plus data science to paint a picture of who is travelling where and when. ForwardKeys’ analytics are used by traveller-
focussed businesses worldwide to monitor and anticipate traveller arrivals from a particular origin market at a specific time. This analysis
enables parties to anticipate the impact of events, better manage their staffing levels, fine tune supply requirements, adjust and measure the
effectiveness of their marketing efforts and anticipate future market trends.
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